Huobi Pro to Leave Japan

Currently 13.3 percent of the visitors on Huobi Pro come from Japan
27 June 2018   495

The Huobi Pro cryptocurrency exchange will suspend the service of Japanese investors in next month. This is written by Coindesk.

According to his information, the corresponding announcement was made in an e-mail, which was received by investors from Japan on Wednesday. It says that they will not be able to use the services of the exchange to exchange cryptocurrency since July 2.

In response to a request from CoinDesk, the Huobi Pro exchange confirmed this information, but did not specify how the procedure for the withdrawal of assets of Japanese traders would be organized.

Huobi Pro's decision to leave Japan is due to the fact that the company is not registered with the Financial Services Agency, which since the beginning of the year has significantly strengthened control over local sites for the exchange of cryptocurrencies. Whether the company received any notifications from the regulator is not known.

Earlier this year, Huobi Pro announced that it had entered into an agreement with SBI Virtual Currency, a licensed exchange unit of the Japanese financial conglomerate SBI Holdings. It was planned that both companies would open a joint exchange in Japan, but in March SBI Virtual Currency announced a break in relations.

According to the Alexa portal, about 13% of visitors to Huobi Pro live in Japan.

Huobi to Acquire Public Firm for $70M

Company took another step forward to enter the stock exchange through a reverse takeover procedure
30 August 2018   444

Huobi Global Limited completed the acquisition of Hong Kong's Pantronics Holdings Limited and took a step closer to enter the stock exchange through a reverse takeover procedure. This is stated in the joint statement of enterprises.

It is reported that the Huobi acquired about 199 million shares of the company through subsidiaries of Huobi Capital and Huobi Universal.

So, at the moment Huobi owns 66.26% of Pantronics Holdings. The average price of the share in the transaction was HK $ 2.72 ($ 0.35), and the total value of the stake is about $ 70 million.

Note that earlier Huobi was going to take over most of the shares of Pantronics Holdings. It was assumed that the chairman of Huobi Group Li Lin will become the owner of 73.73% stake in Pantronics.

Reverse takeover procedure assumes that a non-public company acquires a public company and automatically enters the stock exchange.

Earlier, the bitcoin-exchange Huobi Global announced the launch of a new platform designed for automatic listing of tokens.